Financing greener production, import and trade in Romania
This online event gathered stakeholders in green technologies. Once the domain of a handful of pioneering environmental enthusiasts, green has become mainstream. Governments, municipalities, manufacturers, bankers, vendors and final consumers are increasingly aware of the benefits of green technologies and are taking concrete steps to adopt them today.
The timely availability of financing instruments that enable adoption of green technologies is an important component of the green transition. International financial institutions took an early interest in green financing, now the rest of the banking and financial services industry is following suit.
The forthcoming EU Taxonomy regulation, a detailed EU classification system for sustainable activities, will create a common language for all actors in the financial system. The taxonomy created an excellent moment to gather stakeholders to discuss green technologies and their financing: what are green technologies? how are they performing in Romania? What are customers’ interests in green products and equipment? What are the success stories and the challenges of adopting green? We will look together at what lies ahead and examine options and solutions for promoting green technologies.
Experienced voices from the policymaking, financial, industrial and commercial sectors joined EBRD in discussing green technologies and their financing, building an understanding of where we are at the moment and in which way we are going to continue to support sustainability.
Within this event, EBRD showcased its Green Technology Selector, an online shopping-style platform that allows users to access a global directory for green technologies.
Welcome and introduction: Daniela SCRIPCARIU, CEO, Tractebel Engineering
Panel session 1: Greener technologies to accelerate the green economy transition
Moderator: Anamaria STROIA-TILLEY, Energy Efficiency Consultant, GEFF Romania, Tractebel Engineering
Panel session 2: Financing to accelerate the deployment of green technologies
Moderator: Yucel INAN, Operations Leader for GEFF Romania, EBRD London
Closing session: Q&A and conclusions
Moderator and rapporteur: Mark VELODY, GEFF Project Manager.
Daniela SCRIPCARIU of Tractebel Engineering, the facility consultant for EBRD’s Green Economy Financing Facility in Romania opened the event and introduced three keynote speakers: Zoltan NAGY-BEGE described how energy regulator ANRE is preparing the energy sector to power a decarbonised future; Ambassador Timothy T.Y.HSIANG reinforced the commitment of TaiwanICDF both to Romania and to EBRD; and Mark DAVIS highlighted EBRD’s progress towards its commitment to 50% green financing by 2025 and the many ways in which EBRD is working with both governmental and financial institutions to help decarbonise the Romanian economy.
Anamaria STROIA-TILLEY from the GEFF facility consultant team moderated a technical panel that discussed ways to accelerate the deployment of green technologies. Monica ARDELEANU from the Romanian Green Building Council described growing interest in constructing high-performance buildings as understanding improves about the benefits of higher market values and lower risk for constructors and financiers, as well as lower maintenance and energy costs for residents and occupants; Constantin DAMOV of Green Group showed how there is no waste – there are only resources, as waste is a renewable local resource that is integral to the circular economy. Oleg ROIBU from retailer eMAG described the low carbon footprint of online vs. bricks-and-mortar trade as well as the impact of local collection points as an alternative to door-to-door delivery, scheduled introduction of electric vehicles, decarbonising warehousing and collecting/recycling old appliances to further cut carbon emissions. Edward DUMITRASCU from Romanian Smart Cities described how the city of Turda is Romania’s first city with 100% electric public transport and the how there are more than 100 other Smart City initiatives underway to green and decarbonise urban centres. Elena NOVAC from Tractebel Engineering showcased how EBRDs Green Technology Selector (techselector.com) can matches 35,000 green products with investors, financiers, vendors and suppliers in 38 countries: download it today from your favourite app. store.
Yucel INAN from EBRD’s Climate Change team moderated a panel on financing to accelerate the deployment of green technologies. Secretary of State Raul POP from the Ministry of Environment described government policies and measures to stimulate adoption of green technologies and align with the EU green deal and the green renovation wave. Sorana BACIU from the Independent Directors Association explained how companies can commit to being greener from the top down and how resources are available today to help board members of major companies to understand green issues and set their businesses on a greener path. Luminita RUNCAN representing the Romanian Banking Association described the growing trend for financing products like green mortgages, green personal loans and green bonds and how, with continuing specialist knowledge support from environmental experts and institutions such as EBRD and others, the banks will continue to find innovative ways to mainstream green financing by creating viable products that their customers will use. Daniela BORDIRCA, representing the association ALB Romania whose membership includes leasing and consumer finance companies, pointed out how leasing companies are particularly close to the technologies that their customers use so leasing companies that develop an understanding of green technologies can pass such knowledge through to their customers.
In the closing session, GEFF Project Manager for Romania Mark VELODY took the role of rapporteur, thanked the participants and concluded with the positive message that Romania is well-prepared to take the coming ‘green wave’ in its stride as its government, institutions, businesses and financial institutions understand the challenges involved and have already started to take steps along the road to a decarbonised, circular economy.
Tech Selector App